Northampton sends lower tax rates to public hearing

The Northampton County Board of Supervisors sent a lower tax rate on real estate and personal property to public hearing Tuesday evening on a 3-1 vote.

Northampton’s current real estate tax rate is .835 cents per $100 and the total assessed value of real property, excluding additional assessments due to new construction or improvements to property, is greater than last year’s total assessed value of real property by 14.89 percent.

The tax rate which would levy the same amount of real estate tax as last year, when multiplied by the new total assessed value of real estate with the exclusions mentioned above, would be $0.7268 per $100 of assessed value.

The Board proposes to adopt a tax rate of $0.785 per $100 of assessed value. The difference between the lowered tax rate and the proposed rate would be $0.0582 per $100 or 8.01% This difference will be known as the “effective tax rate increase”.

A public hearing on the Equalized Tax Rate will be held on May 24, 2022, at 5:00 p.m.

The Board will also consider lowering the personal property tax rate from $3.90 to $3.60 per $100.

The Board will hold a separate public hearing on June 21,2022 to consider the proposed FY 2023 budget which may increase, decrease or retain the Equalized Tax Rate.

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